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With Growing Coronavirus Concerns, How Will Your 401k Hold Up?

Coronavirus

The stock market took its biggest point drop in history in 12 years due to concerns over the coronavirus early in the week.

So what about your 401k?

Treasury Secretary Steven Mnuchin says don’t worry when it comes to long term investments, stay the course. He says it will go back up.

“My comment is, don’t stare at the screen. Okay? It’ll be higher a year from now. As I said, people who weathered the crash in 1987, people who, whether the financial crisis for long-term investors, uh, the U.S. is the best place to invest in the world. And again, I can’t predict where the market is on a daily basis. Uh, people should be less concerned about going up and down,” Mnuchin explained further.

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